BIRMINGHAM, Ala. -- Bruno's here last week said sales climbed but same-store sales fell in the third quarter and 39 weeks ended Oct. 26.
er and 0.4% in the 39 weeks. Bruno's had a $61.7 million net loss in the quarter, including $89 million associated with the sale of its Vidalia, Ga., operations, vs. a net loss of $26 million a year ago. It had a $56.7 million net loss in the 39 weeks vs. an $18.2 million net loss a year earlier.
Earnings before interest expense, income taxes, depreciation, amortization and other adjustments rose to $28.8 million from $26.9 million for the quarter and to $108.4 million from $75.8 million for the 39 weeks.
"To date, we have repaid $106 million in leveraged-buyout debt, putting us two years ahead of plan," said William J. Bolton, chairman and chief executive officer. Bruno's debt is $769 million, down from $875 million when Kohlberg Kravis Roberts & Co., New York, acquired it in 1995. Jim Hagen, chief financial officer, told SN, "We've done a better job managing working capital than forecast in the LBO plan. We've had surplus cash available to pay down our bank facility, and as long as we can do that, we will continue to do so."
Qtr Ended 10/26/96 9/23/95
Sales $694.2 million $655.2 million
Change + 6%
Same-store - 2.3%
Net Income ($61.7 million) ($26.0 million)
39 Weeks 1996 1995
Sales $2.1 billion $2.09 billion
Change + 2.9%
Same-store - 0.4%
Net Income ($56.7 million) ($18.2 million)
Due to a fiscal year-end change from July 1 to Feb. 1, 1995 results reflect 12- and 28-week periods.